Terms of Business

These Terms of Business set out the basis on which ACC Loan Management DAC (‘ACC Loan Management’, ‘us’, ‘we’, ‘the company’, ‘our’ and/or ‘ACCLM’), will provide business services to you as a customer (the ‘customer’) of ACC Loan Management DAC.

ACC Loan Management DAC was formerly known as ACCBank plc or “ACCBank”. ACCBank returned its banking licence in 2014 and became ACC Loan Management DAC. We withdrew from providing standard banking products such as current and savings accounts. We now focus on managing our existing customers’ facilities. ACC Loan Management continues to be a regulated entity. Please take a few minutes to read through these Terms of Business and if you have any questions we will be happy to answer them.

Status

ACC Loan Management DAC trading as ACC Loan Management and/or ACCLM is authorised as a Retail Credit Firm and is registered as an insurance intermediary and is regulated by the Central Bank of Ireland. (www.centralbank.ie)

We will conduct all dealings with you through English. We will communicate with you primarily by post and telephone and in certain circumstances face-to-face, by fax and email.

Codes of Conduct

ACC Loan Management is subject to the Consumer Protection Code, the Code of Conduct on Mortgage Arrears, the Code of Conduct for Business Lending to Small and Medium Sized Enterprises and the Minimum Competency Code, which offer protection to customers. These Codes can be found on the Central Bank of Ireland website, www.centralbank.ie.

Regulated Activities

ACC Loan Management is authorised as a Retail Credit Firm on the register of Retail Credit Firms and Home Reversion Firms Authorised in the State, established and maintained by the Central Bank of Ireland and which can be inspected by going to www.centralbank.ie

ACC Loan Management is registered as an Insurance Intermediary on the Insurance Mediation Register established and maintained by the Central Bank of Ireland and which can be inspected by going to www.centralbank.ie.

Our principal business is the management of our loan book.

Administration outsourcing arrangements

ACC Loan Management has transferred the management of loans and facilities to Link ASI Limited (trading as "Asset Services"). Asset Services is a duly authorised agent of ACC Loan Management. Enquiries in relation to loans and facilities should be referred to Asset Services. This outsource arrangement does not include the sale of any loans to Asset Services and all outstanding liabilities continue to be owed to ACC Loan Management. Asset Services will take over maintaining and processing any personal data relevant to transferred loans and facilities. Affected customers will continue to benefit from the protection of all applicable regulatory codes.

We apply charges to particular products and services we provide. The fees and charges applicable to each product/service will be explained to you by one of our staff members. In addition, you can obtain a brochure called Guide to Fees and Standard Charges at any time on request from one of our staff or by visiting our website: www.accloanmanagement.ie. In relation to our fixed rate lending products, full repayment or additional lump sum payments during the fixed rate period will normally incur an early repayment charge. The method of calculation of this charge is set out in the applicable terms and conditions.

Conflicts of interest

It is our policy to avoid any conflict of interest when providing business services to our customers. However, where an unavoidable conflict may arise we will advise you of this in writing before proceeding to provide any business service. If you have not been advised of any such conflict, you are entitled to assume that none arises.

Use of a Customer’s Personal Data

ACC Loan Management and/or any of its subsidiaries and successors, its parents or subsidiaries of its parents or on its behalf by its or their agents or service providers may use and disclose any personal data relating to its customers which it obtains directly from its customers and/or in connection with the services it provides to its customers (i) as specified and for the purposes set out in the services it provides (including without limitation for the purposes of carrying out credit referencing checks, and/or advising on a customer’s credit status), (ii) for group reporting and management purposes, (iii) for such other purposes as have been disclosed to the customer by us; and (iv) as required by law or regulation.

You have a right to access personal data about you, which we hold (in respect of which we may charge a small fee), and to have any inaccuracies in that data corrected.

All requests should be in writing and addressed to the Data Access Requests, Asset Services, Block C, Maynooth Business Campus, Maynooth, Co. Kildare, W23 F854.

Actions that may be taken by us

ACC Loan Management will, if necessary, exercise our legal rights to recover any payments due to us from customers for financial facilities/products. We may withdraw benefits or cover on default of any payments due under any facilities/products arranged for your benefit. Details of these provisions will be included in the terms and conditions of your facility/product with us.

If you experience repayment difficulties in relation to a specific lending product, you will be charged surcharge interest on any repayments missed and the security taken for either a personal or business lending product may be used to reduce your overall indebtedness. In addition, you will remain liable for any outstanding debt, including any accrued interest, surcharge interest, fees, charges, legal, enforcement and other related costs. Subject to applicable terms and conditions, we may offset the total arrears outstanding against monies held on account. In certain circumstances where you have missed repayments, we may employ an external debt collection agent or other third party to act on our behalf.

Important information for business customers

Annual Reviews

It is our policy that every business customer’s account(s) are reviewed at least once annually. Our policy states that if you have availed of a lending product, you are entitled to request a review meeting on an annual basis. During this meeting, all of your current lending products and associated security can be discussed. If you would like to avail of this option, please contact us.

Complaints

If you are dissatisfied with any aspect of our service or products, you can let us know by contacting our Customer Relations Team.

By phone Ask to speak to any of our Customer Relations Team on 1850 708888.In writing Address your complaint to:

We will try to resolve complaints as quickly as possible. At a minimum we will respond within five business days. We will write to you at least every 20 business days of the complaint being received thereafter. In the unlikely event that your complaint remains unresolved after 40 business days, we will write to you again with the anticipated timeframe to resolve the complaint. We will also advise you of your right to refer the complaint to the Financial Services Ombudsman.

If you are still not satisfied you are entitled to take your complaint to:

Where we make any material changes to these Terms of Business, we will provide each affected consumer with a revised Terms of Business as soon as possible. All other changes will be updated on the Terms of Business section of our website.